Companies And Technology In The Medical Field

1051 words - 4 pages

In United States medical care, the instrumentation and supply industry forms a focal unit in ensuring that the field is well equipped to deal with the ever growing medical requirements for both, the people living in and out of the country. Medical device companies produce a massive amount of products used for diagnosing and treating ailments. These incorporate surgical and professional medical instruments, electromedical, and also electrotherapeutic apparatuses, precise appliances and materials, ophthalmic goods, and clinical equipment (Scannell 2004). Demand is influenced by population class and advances into the medical knowledge in addition to technology. The earnings of individual organizations depend on how they are able to develop superior solutions. Large companies possess economies of scale in manufacturing as well as distribution. Tiny companies can contend successfully by devoted to a particular marketplace segment, or via technical innovation. The American industry is centered on the 50 greatest companies accounting for around 60 percent of the total revenue.
Accuray Inc., which is a radiation oncology company, that engages in the development, manufacture and distribution of precise and innovative tumor treatments. The medical field has in the recent times been facing many uncertainties, which have led to the decrement in the investments directed to the medical production industry. Just like other companies, the company has been impacted by the global economic crisis; however, the increase of the medical equipment and supplies business has remained uninfluenced due to the fact that it is an essential sector. Even those marketplaces that are reducing growth in America, there are increases in other countries which form a major part in building the medical production industry. With the US, specifically, importing an identical amount of what it exports, with forty five percent of the actual imports being transported from just three countries and medical supplies being exported globally, then the industry may rely on the external market (Haggerty 2012). Moreover, there are several states alone that account for 30 % of the overall US industry.
This kind of tight import and export market may create problems in this industry if one state or nation were to get issues. The industry is additionally experiencing a shift of several producers to lower cost countries as a result of the small production periods that require an increased level of labor-intensive production. In terms of technology, the company is also been influenced financially by the increased international standardization and shortened medical testing that has in addition led to shortened development cycles for medical equipment compared to pharmaceutical and drug advancement. Through industry unification and movement to the major corporations in the marketplace there is improving homogeneity between organizations and products. This specific and fast product lifetime cycle...

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